Using Document Management In Accounting For Greater Control And Profitability
Inside accounts receivable, there’s pressure from upper management to increase the collection period to bring more money into the business, while inside accounts payable, questions arise as to whether or not the department is optimising discounts with suppliers and cutting costs where possible.
Your accounting staff is overburdened by paper. So, how do you save them, and, in turn, strengthen your business?
Optimising Accounting Workflows In Your Organisation:
Every task related to your accounting department is subject to a particular workflow. This workflow starts at the point in which a document is gathered from outside or inside your organisation, and continues through processing, storage and delivery.
With hundreds or thousands of these physical documents being generated every day, the need for efficient document management is crucial if you’re looking for ways to cut accounting-related costs while gaining greater control over accounts payable and receivable.
Diagnosing Accounts Receivable And Payable Pain:
Inefficient paper-based processes prevent timely invoice processing and taking advantage of available supplier discounts. Without visibility and control over your documents, you remain exposed to risks…
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